The SEC said that since 2009 it had sent its Chinese counterpart 21 separate requests for assistance in connection with 16 different investigations and had not received any of the requested audit papers or any meaningful assistance. Additionally, the agency said that long-running negotiations the China Securities Regulatory Commission to establish a framework for information sharing had gone nowhere.

According to the SEC, its investigators have been making efforts for the past several months to obtain documents from these firms, which have “refused to cooperate.” The audit materials are being sought as part of SEC investigations into potential wrongdoing by nine China-based companies whose securities are publicly traded in the U.S.

A memo reviewed by Dow Jones Newswires detailed the Bentonville, Ark. retailer’s sprawling, $30 million review of the company’s worldwide compliance controls and subsequent changes to its internal controls and protocols.

A director in KPMG’s risk consulting practice, Charlie Patrick has worked for the firm for 20 years, including spending two years working as a project manager on a probe into the fate of the assets of Holocaust victims that were held in Swiss banks.

About Corruption Currents

Corruption Currents, The Wall Street Journal’s corruption blog, digs into the ever-present and ever-changing world of corporate corruption. It is a source of news, analysis and commentary for those who earn a living by finding corruption or by avoiding it. Corruption Currents is written by Christopher. M. Matthews and Sam Rubenfeld and edited by Nick Elliott.

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